Was it cramer that said what goes to 80 goes to 120. Imagine 120 oil. WOW. Paying about 6 bucks at the pump..... Good thing he cut the rates by 50BP. Whew, with commodity prices soaring this is the best thing for this economy, the dollar is doing great as well.
Oil will go to triple digits soon. It is inevitable, you have the EASIEST Fed in history, dollars are just being spilled everywhere, it is a killer for the foreigners and domestic savers, but a godsend to homebuilders and those with gobs of debt and of course investment banks who get richer, while the poor will get poorer. Oil is the play in this easy environment, stocks are going to just be treading water while the economy stagnates and commodity prices skyrocket.
Up and over 82.20, unleaded gas has been @ 2.61 here in dallas for a month it seems, today 2.61. I guarantee you prices will go up tomorrow now that this rate cut is done.